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GP Bullhound advises Greetz the leading online personalised greeting card company on its €7m round


GP Bullhound, the technology investment bank with offices in London and San Francisco, has acted as sole advisor to Greetz (www.greetz.com) the online personalised, printed and posted greeting card service on its development capital round of financing.

Greetz CEO Johan Van Vulpen comments: “We were delighted with the quality of the GP Bullhound service from start to finish. They demonstrated excellent e-commerce expertise and had a truly impressive international network of investors and strategic partners.”

Greetz has grown strongly in recent years sending more than 3.2m cards last year and is the market leader in the Netherlands. The capital will be used to strengthen the company’s position in the Dutch market and execute on its international expansion. Greetz has recently launched in France, Germany and the United Kingdom.

The funding was provided by ePlanet Ventures together with the existing shareholder Prime Technology Ventures. On the syndicate Johan stated “Once again, our existing shareholder Prime Technology Ventures has demonstrated its trust in our company. Furthermore, we are pleased to welcome ePlanet Ventures, a leading international fund who previously backed such internet successes as Skype and Baidu.”

Sake Bosch, Prime Technology Ventures founder and Managing Partner noted: “We fully support the plans the Greetz management has for the Netherlands and beyond. The Dutch business model is perfectly suited to be used outside the national borders. These international markets will prove to be an important contribution to the future turnover of the company.”

Dennis Atkinson, ePlanet Ventures Managing Director stated: “The traditional market for greeting cards is enormous with healthy margins, yet the current printing on demand market share is only approximately 1%. The expectations are that this market share will increase to more than 10% by 2012. In our view Greetz has significant potential, which is why we look forward to be able to contribute to the future growth of this company.”

This deal represents the completion of GP Bullhound`s fourth transaction of 2009, and the third recent transaction in the Internet sector.


Publisher Contact Information:

GP Bullhound Limited
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Press@gpbullhound.com

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